Team Technologies recently announced that it acquired consumable medical device manufacturer iiMed Medical Solutions for an undisclosed amount.
The acquisition is the fourth purchase since Clearlake Capital Group invested in the company in 2018. It is the eighth transaction completed by the company since 2012.
Nearshore specialty manufacturer iiMed makes FDA Class I and Class II consumable medical devices and partners with healthcare OEMs. It designs and manufactures devices for patient monitoring, wound care and compression therapy treatments.
“We are thrilled to welcome iiMed’s customer partners and talented employees to the Team family. We have been impressed with iiMed’s rapid growth and deep expertise across an array of specialty manufacturing solutions, and we look forward to working with the iiMed team to grow our combined business to better serve our healthcare customers,” president and CEO Marshall White said in a news release. “As our communities continue working through the implications of severe supply chain constraints and disruption, Team remains committed to building a North American footprint of scale and manufacturing excellence to aid our customers in their pursuit of enhanced procurement continuity and accelerated time-to-market for their critical healthcare solutions.”
Amherst, N.Y.-based iiMed adds its RF welding, flame lamination, converting, sewing and clear room assembly capabilities to Team’s portfolio of scalable technical capabilities that range from design and material sourcing to manufacturing, assembly and packaging.
“This transaction combines highly complementary manufacturing processes and deepens both organizations’ capabilities within critical healthcare end markets,” Clearlake VP Ben Kruger said. “We are pleased to welcome iiMed’s employees as we continue our growth trajectory with Team. We look forward to leveraging our OPS framework to integrate the platforms and continue driving accelerated growth through both organic and inorganic initiatives.”